Fresher AML Support Officer Jobs – DFCU Bank
Job Title: AML Support Officer
Organisation: DFCU Bank
Duty Station: Kampala, Uganda
Reports to: Compliance Manager
About US:
DFCU bank is a fast growing commercial bank offering a variety of innovative products and services. DFCU Limited was started by the CommonwealthDevelopment Corporation (CDC) of the United Kingdom and the Government of Uganda through the Uganda Development Corporation (UDC) under the name of Development Finance Company of Uganda Limited. Later restructuring brought in DEG (of Germany) and International Finance Corporation (IFC) as equal partners with CDC and UDC, each having a 25% stake in the company. Its objective was to support long-term development projects whose financing needs and risk did not appeal to the then existing financial commercial lending institutions.
Job Summary: The AML Support Officer will build a strong AML compliance culture across functions and bank businesses through proactive identification, Evaluation, monitoring of suspicious activities and transactions in the Bank and ensure timely reporting to the Compliance Manager and the Regulator as per applicable Law. The Anti-Money Laundering support officer will also provide daily support to the business units in AML, Counter Financing of Terrorism and other compliance related matters. The incumbent is required to analyse information requests from Correspondent Banks, ensure timely responses, review and report on activity associated to correspondent and intermediary relationships.
Key Duties and Responsibilities:
- AML Support:
- The incumbent will investigate and access alerts for potential Money laundering risks in the Bank.
- Formulate tools to help in the identification of Money laundering and terrorism financing risks.
- Ensure all AML / regulatory reports are submitted timely for review and to the regulator.
- Ensure prompt identification and monitoring of suspicious activities and transactions bank wide / in assigned units.
- The jobholder will also maintain current understanding of money laundering and terrorism financing trends including Laws, policies, procedures, regulations, industry best practices, criminal typologies among others.
- Aid in identifying procedure weaknesses and conducting training needs assessments in relation to Money Laundering & Terrorism Financing.
- As an AML subject matter expert, provide direction and guidance to the Bank employees on appropriate remediation strategies for High Risk accounts.
- Coordinate the timely review of correspondent, intermediary and subsidiary relations and answering queries.
- The jobholder will also maintain an updated inventory of suspicious transaction documents and related correspondences.
- Review activity on new accounts (less than 6 months) and New created Loans for AML issues.
- Regulatory Relationship Management:
- Support the Compliance team in preparing relevant documents for filing of suspicious transactions reports to the financial intelligence Authority and co-coordinating responses / follow-ups subsequent thereto.
- Coordination with the Business and Functions in the responding to regulatory requests.
- Support the businesses and functions in managing Anti Money Laundering, sanctions, anti-corruption and other related compliance risks.
- Management of statutory communications: Support the bank in managing and coordinate the responses to statutory communications i.e. Agency notices so that the bank is not exposed to penalties, sanctions and fines as a result of non-compliance.
- Products and Service: Provide support in reviewing AML / Counter Financing of Terrorism risks associated to new products being rolled out / enlisted.
- Management Reporting: Support the unit in ensuring timely, accurate management and regulatory reporting in line with the agreed frequencies i.e. weekly, monthly, quarterly, bi-annually and annually.
Qualifications, Skills and Experience:
- The applicant for the DFCU Bank AML Support Officer job opportunity must hold a University degree
- At least two years’ experience in financial services data analysis, AML compliance specific experience preferred
- Strong analytical skills required to organize and analyze multiple, complex data sets as well as strong interpersonal and organizational skills
- Computer literacy skills with essentials in Ms packages including spreadsheets
- Strong database skills including working with advanced data sets, pivot tables, advanced data bases and statistical functions / methods
- Strong technical skills
- Broad knowledge and understanding of market place AML Issues and elements of suspicious activity, transaction monitoring systems, data mining / analytical tools and AML Automated tools.
- Proven ability to quickly grasp and understand business unit specific AML risks / trends, develop comprehensive user requirements and provide recommendations for appropriate automated solutions to mitigate those risks.
- Extensive knowledge of banking products, policies and processes
- Working knowledge of AML Laws, Sanctions and CFT laws
How to Apply:
All candidates who so wish to join the banking sector in the aforementioned capacity are encouraged to send their applications with detailed CVs including present position and copies of relevant professional/academic certificates to: Vacanciesbank@dfcugroup.com
Deadline: 14th July 2017
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